1. Technical Field
The invention relates to information alerts. More particularly, the invention relates to an index and news alerts system, whereby alerts are delivered via standard e-mail or XML using push technology.
2. Description of the Prior Art
Data processing systems provide an efficient mechanism for storing and retrieving high volumes of data. They are particularly well suited for the investment and market analysis industry because of the overwhelming amount of raw data and analytical data applied to an investment decision. For example, some data relevant to a stock market investment decision are, to name a very few, price, change in price, price to earnings ratio, and the like.
It is critical for investors to monitor changes in their relevant data as quickly as possible. Investors can then promptly analyze reasons for the changes and then determine whether or not to act on the changes. For example, investors may decide to invest in an under-valued company, divest in an over-valued company, or remain at a current position.
In the prior art, one way investors are informed of changes in the market is by market instruments alerts. That is, if in a particular investment instrument a change measured against a set of criteria is detected, an investor is alerted about that change and usually by a type of computerized investment system. However, nowhere does a system exists that allows investors to set and receive alerts based on the metrics of groups of investment instruments.
C. R. Petruzzi, Data Processing System for Global Assessment of Investment Opportunity and Cost, U.S. Pat. No. 5,806,049 (Sep. 8, 1998) discloses a xe2x80x9c . . . data processing system for determining a matrix of optimal investment portfolios based on globally accessed investment return and risk criteria. The system creates a global defined database of investment assets and investors. Asset and investor characteristics are established and applied to provide solutions to the ensuing linear relationships. These solutions are then individually applied to determine an optimal investment portfolio on an individualized basis.xe2x80x9d
Kolton et al, System for Forming Queries to a Commodities Trading Database Using Analog Indicators, U.S. Pat. No. 5,590,325 (Dec. 31, 1996), Kolton et al, System for Extracting Historical Market Information with Condition and Attributed Windows, U.S. Pat. No. 5,414,838 (May 9, 1995), and Kolton et al, Market Information Machine, U.S. Pat. No. 5,778,357 (Jul. 7, 1998), each disclose a xe2x80x9c . . . computerized data retrieval system, especially for commodity price information databases, having a windowing system which aids a user in creating and revising formal search language queries, a database searching engine responsive to such queries, means to generate and format results in both textual and graphic reports, and a capacity for echoing a formal search language query to a display in a near-natural language format for easy comprehension by the user as the query is constructed using the windowing system. The system has facilities for including domain knowledge in a query, such as market knowledge of calendar events, national holidays, triple-witching hours, and option contract expiration dates. The system has additional facilities that permit a user to include more fundamental domain knowledge, such as dates of political elections, date of issuance and value of company earning reports, the consumer price index, and so on. The near-natural language format of the query may be created and revised either through the windowing system or with a text editor.xe2x80x9d
Midorikawa, et al, Electronic Market Transaction System for Detecting Orders Reaching a Prescribed Frequency of Failure to Increase Chance of Establishing Transactions, U.S. Pat. No. 5,655,088 (Aug. 5, 1997) discloses an electronic dealing system, which electronically performs matching processing between information on transaction orders placed by order side customers and information on transaction orders placed by hit side customers so as to establish transactions. The electronic dealing system detects orders for which hit requests have been made, but for which transactions have failed to be established for a long period of time and eliminates those orders from the electronic dealing market. Further, when transactions fail to be established due to factors other than the transaction price and the transaction amounts, other customers which would help establish the transactions between order side and hit side customers are found so as to increase the number of transactions which are established.
What is lacking in the above-referenced prior art, and in the commercial marketplace in general is a way to filter key qualitative criteria essential for accurate comparative valuation and peer-group analysis, and to provide alerts based on said criteria. That is, lacking are alerts based on, for example, classification of each competitors product or service, strategic partners, major customers, end-user markets served, regulatory agencies that affect the business, particular business strategy, and other such significant data.
It would be advantageous to provide alerts based on categorizations of companies, whereby the alerts functionality is automatically extended to subsidiary classifications, and/or to constituent company classifications, and/or to securities instruments.
It would also be advantageous to provide sector performance and news alerts based on a proprietary product/services-hierarchy database disclosed herein below, which organizes accurate comparable industry, sector, sub-sector, and group (hereafter referred to collectively as xe2x80x9csectorxe2x80x9d) market performance and stock investment information centered around the products produced and services performed of each company and their true competitors. In the product/services-hierarchy database (herein referred to interchangeably as xe2x80x9cproduct-hierarchy databasexe2x80x9d), each product or service type is created as an index that can be valued and measured.
A product-hierarchy database is provided that organizes and tracks company market performance and stock investment information by the products and services produced and offered by each competitor. The product hierarchy is created in the database independently of the companies. The companies that produce each product are then relationally linked to each product in the hierarchy that corresponds to a product produced or service performed by each company. An investment information service includes the product-hierarchy database and makes it accessible to investor and analyst subscribers through a query system across the Internet. Data entry personnel continually load qualitative and quantitative information about companies and their products through a product hierarchy generator connected to the product hierarchy database. Subscribers can punch-through to query individual data items, and they can find out what relationships exist between all the important aspects of the companies and the products being tracked. The invention also provides performance criteria by industry, sector, sub-sector, and group, thereby allowing industry, sector, sub-sector, and group-based qualitative assessment.
The invention provides index performance alerts by sector. The index alerts are based on price performance measures of each industry, sector, sub-sector, or group (referred to collectively as xe2x80x9csectorxe2x80x9d herein.) Users are able to define limits for the industry, sector, sub-sector, or group categories for alerts on price, volume, intraday range, current closing price relative to the intraday range, price to revenues, price to earnings, price to book value, and price to cash flow. Users have the ability to define at least one area in a hierarchy of industry, sector, sub-sector, or group levels, for setting alerts. Users can also request tickers of individual companies. The invention also provides news alerts for at least one user selected hierarchy level and/or an individual ticker symbol. Users are alerted when a news story, linked to a user-specified group or ticker, is created. The invention uses a proprietary, product/service hierarchy methodology for categorization of companies, wherein the categorization methodology automatically extends the functionality to deliver a plurality of other alert notifications associated with subsidiary classifications, constituent companies classifications, or to securities instruments. A preferred implementation of communication delivery is standard e-mail as well as XML using push technology.